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, reduced spending on the wars in afghanistan and iraq and through targeted cuts to mandatory spending. it doesn't raise taxes and it doesn't touch medicare, medicaid or social security. again, this is not a perfect plan. i have been on the floor many times in favor of a balanced package that includes cuts to spending, domestic, defense and mandatory, but also includes increased revenues. the reid princess plan doesn't e those goals -- the reid plan doesn't achieve those goals but i hope we will get there eventually. this is not a proposal i would have written, but i'm one of more than 100 members of the senate and more than 535 members of congress, and i don't get everything i want. none of us here in congress get everything we want. that's the nature of compromise. that's the nature of democracy, and that's why the framers of the constitution created checks and balances in government. that's why they created two chambers in congress and three branches of government, and when you're a leader in government, you just don't have the luxury of drawing a line in the sand and walking away.
wars in iraq and afghanistan and participate in the nato exercise in libya. that's pretty expensive undertaking. we know that that has gone up 84%, military spending, in the last ten years, gone up 84%. we know at the same period of time that spending on mandatory programs -- that would be like social security, medicare, medicaid, agriculture payments, veterans payments. spending for those payments over the last ten years has gone up 32%. and we know that the rest of the budget, the so-called domestic discretionary spending which would include things like building highways, keeping federal prisons open, providing pell grants to college students, giving children from poor families early childhood education, putting money at the national institutes of health for madam chair research. that's one section of the budget. it comprises 12% of our budget. in the last ten years that part of our budget has gone up zero percent. no increase in spending in that section. most of our spending goes into the military, 84% increase over ten years, and mandatory programs, 32% over ten years. the bigge
billion in iraq and afghanistan to train the security forces, less than $10 billion to retrain our work force for the jobs of the future. well, mr. president, i see others have come on the floor. i'll wrap this up. deficit reduction is important. i'm not saying it isn't. but it is not the single-most important thing right now. the single-most important thing is to put people back to work. that will, as senator wyden said earlier, start to create the demand. it will spur more private investment as the federal government begins to invest in the future of this country. that's where we ought to be focusing on. once we get the wheels going again, once we get people back to work and the economy start to to -- starts to grow, that's when we start to reduce the deficit. to just focus on deficit reduction right now to the exclusion of putting people back to work reminds me of when doctors used to put leaches on people who were ill. it only made them more ill because it drained more blood out of their system. and most times proved fatal, as it did to our first president, george washington. our ur
that it needs that is a small percentage for wasting infrastructure in afghanistan. the notion that the cftc that the 80 or $90 billion more that we need can't be done because of the deficit that people spent in $147 billion so we can keep subsidizing american farmers is nonsense. similarly with the fcc they want to turn in. they will bring in more money to the system than it will be given to run it. that's one effect. in fact, what you have running here is a catch 22. first, deny the fcc and cftc adequate funding. they in turn are not able to deal with the rulemaking requirements that they have. then because we haven't been able to move as quickly, that's something they have imposed. obviously, you want the fcc and cftc to have smart people and information technology. i have to say i do not see it coming from the financial institutions. many of them recognize while you may not like the rules, if you've got the rules, you want them well run. this is coming from the republican party who just believe despite all of the evidence to the contrary that an unregulated free market works. you saw thi
be directly affected by a government default. paychecks for soldiers, in afghanistan and iraq and at bases around the world conceivably wouldn't go out. f.a.a. towers could shut down. border crossings could close. operations at the f.b.i. and the c.i.a. would be put at risk. safety inspections of the food that we eat and the cargo that enters our ports could halt. and the resulting spike in interest rates would ironically make our debt even harder to tackle because each 1% rise in interest rates alone would result in $130 billion in increased interest payments on our national debt each year. perhaps, most importantly, hard-working american families would also feel the crunch. a spike in interest rates would effectively force a tax on all americans and american businesses due to increased consumer costs. just as important, failure to raise the debt limit would lock up credit markets because the u.s. would no longer be seen as a reliable credit risk. coincidentally, mr. president, yesterday an important consumer protection law which senator lugar and i introduced and passed and you helped us
spending at all levels, including the military, as we bring our troops home from afghanistan. and, yes, it needs to look at the money that we spend through our tax code -- and we've talked about this over and over again. we need to have a balanced approach, a credible approach to manage our debt. and that should be our first option. but under no circumstances should we allow america to default on its obligations, causing harm to every american family. i urge-colleagues to put the national -- i urge my colleagues to put the national interests first, to take off the table the default on our debt, take that off the table, let's put the national interest first, work together to bring about a credible plan to manage our national debt. and with that, mr. president, i would yield the floor and suggest the an -- before i do that, i would suggest the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call:
Search Results 0 to 5 of about 6